NOT LISTED FOR SALE
2 Beds
1 Bath
800 Sq Ft
1973 Built

Last Sold January 29, 2016

Last sale price $312,000 $390 Per Sq Ft

50 Days on Market

Highlights

  • Heated Community Pool
  • Cooling Available
  • Individual Controls for Heating
  • Phoenix Coding Academy Rated A
  • Ceiling Fan

About This Home

As of January 2016

Check out the opportunity...SEVEN TWO BEDROOM UNITS WITH 800 square feet each and includes a great community POOL! Other advantages include all-Saltillo tile flooring, newer appliances (replaced in 2011), Upgraded windows, New Roof in 2011, excellent maintenance records, parking lot and good laundry income. CAP rate of over 7% with value add and a recapture return of less than 15 years. Current owners have made numerous capital improvements and this property is ready for any investor. Professionally managed can be continued -- we have the pro-forma budget that proves the numbers!

Last Agent to Sell the Property

David Prom

N.B. Andrews and Associates License #BR551476000 Listed on: 10/03/2015

Co-Listed By

Non-MLS Agent

Non-MLS Office

Last Buyer's Agent

PJ Caruso

Realty ONE Group License #SA535785000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,440

Year Built

  • Built in 1973

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Built-Up Roof
  • Block Exterior
  • Stone Exterior Construction

Interior Spaces

  • Ceiling Fan

Parking

  • 7 Open Parking Spaces
  • 7 Parking Spaces

Utilities

  • Cooling Available
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping, pool/spa maintenance
  • Assessor Parcel Number 154-29-016

Community Details

Overview

  • 7 Units
  • Building Dimensions are 17424 SF 62 Feet by 265 Feet

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $19,420
  • Gross Income $47,700
  • Net Operating Income $23,364

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,440

Year Built

Built in 1973

Lot Details

0

Listing Details

  • Cross Street: 23rd Ave North of Indian School Rd
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: M-M, R-3
  • Number Of Buildings: 1
  • Year Built: 1973
  • Tax Year: 2015
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s)
  • Professional Management Expense: 2184.0
  • Co List Office Mls Id: nmls
  • Cooling:Ceiling Fan(s): Yes
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stone, Block, Brick
  • Roof: See Remarks, Composition, Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 7.0
  • Total Parking Spaces: 7.0
  • General Property Description:Uncvrd Parking Spcs: 7.0
  • General Property Description:Total Parking Spcs: 7.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Electric, Ceiling Fan(s)
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:Mini Blinds: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Community Amenities:Pool2: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 780.0
  • Annual Water Sewer Expense: 2976.0

Lot Info

  • Lot Size: 17424 SF 62 Feet by 265 Feet
  • Additional Parcels: No
  • Parcel #: 154-29-016

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping, Pool/Spa Maintenance
  • Tenant Pays: Cable TV
  • Number Of Units Total: 7
  • Electric Expense: 1836.0
  • Annual Gross Income: 47700.0
  • Insurance Expense: 3684.0
  • Maintenance Expense: 2620.0
  • Property Net Operating Income: 23364.0
  • Annual Operating Expense: 19420.0

Tax Info

  • Tax Annual Amount: 2440.0
  • Tax Book Number: 154.00
  • Tax Lot: 0
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/29/2016 01/29/16 Sold $312,000 -6.9% $390 / Sq Ft
11/20/2015 11/20/15 Pending -- -- --
10/01/2015 10/01/15 For Sale $335,000 -- $419 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,428 $21,678 -- --
2024 $3,129 $20,646 -- --
2023 $3,129 $87,030 $17,400 $69,630
2022 $3,081 $64,310 $12,860 $51,450
2021 $3,110 $54,260 $10,850 $43,410
2020 $2,990 $46,630 $9,320 $37,310
2019 $2,953 $39,250 $7,850 $31,400
2018 $2,726 $34,000 $6,800 $27,200
2017 $2,692 $29,200 $5,840 $23,360
2016 $2,578 $25,530 $5,100 $20,430
2015 $2,440 $21,830 $4,360 $17,470
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5343452

Arizona Regional Multiple Listing Service (ARMLS)